Today HSI led a false break down. It broke my trigger point but recovered quickly. Generally, market was range bound, bears in control was negated wen the break recovered fast.
STI did not hit the bottom trigger point. Range bound. Good that it ended mix rather then bearish after the unexpected poor economic report. This shows strength in the market.
STI short term is bullish but currently holding at major resistence area. Needs more strength to break thru this barrier. General stocks are still bullish. Some to note are STX, CES, LB, Mercator, singtel...
Remember that DJ is still very weak and need strength to enter before the short term bulls turn bearish. Failure of strength to enter will result in a plunge ahead and bearish trend to continue.
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